Support the Resilience of City Economies
Resilient cities must have a healthy and growing economy that provides a range of employment opportunities at living wages for their residents, fosters the formation of new businesses, and promotes innovation and strength of existing corporations.
When a city provides these opportunities it can grow inclusively, and generate economic prosperity to support cohesive and engaged communities that can ensure social stability, security and justice, and rebound more quickly from business disruptions.
Where We Are Today
American cities drive the national economy. In 2016, twenty of the nation’s largest cities generated 52% of the nation’s GDP. Risks from natural hazards, cyber-attacks, loss of power and connectivity, political and local market volatility, crime and inequality undermine supply of and demand for goods, resident mobility, asset valuation and business service continuity. These impacts can undermine a city’s tax and financial base.
While cities drive the national economy, small businesses drive the economy of cities and make up 99.7% of all U.S. employers. Small firms are especially at risk from disaster events: according to the U.S. Chamber of Commerce, “one in four small businesses will experience a disruptive natural disaster in any given year, and of those, 43% won’t recover.” Supporting small businesses must be a key component of a city’s economic resilience strategy. Cities recognize these challenges. Of the twelve 100RC strategies completed so far by U.S. cities, all prioritize strategies to strengthen local economies, and identify a robust local economy as interdependent with their resilience.
Federal Roles
The Federal Government supports city economies through funding, data and technical advice, and regulation to ensure growth, equity, safety and fairness in business operations. There are a host of federal programs designed to stimulate the economy.
Leading federal agencies directly involved in strengthening city economies include:
The following strategies support the resilience of city economies by promoting workforce training in the growing resilience economy and business continuity for small business:
Strategy: Initiate a workforce training program dedicated to promoting the nation’s safety and resilience
Strategy: Establish a Great America Accelerator for Small Business Growth and Continuity
Strategy: Engage the Private Sector to Develop Innovative Solutions for Social and Economic Problems Facing Low-Income Communities
Conclusion and Potential Allies
The need for business and social service disruption planning is both a challenge and an opportunity for local economies. The Federal Government should gather data and information needed to identify the most critical risks to businesses and social services that workers rely on, and combine forces with private and philanthropic organizations to pilot and potentially replicate successes in addressing resilience needs.
Professional groups and think tanks: Heritage Foundation; American Enterprise Institute; Cato Institute; American Action Forum; Center for American Progress; Heartland Institute; Bipartisan Policy Center; Policy Link; Third Way.
Cities will find numerous allies committed to furthering America’s economic growth from organizations such as: U.S. Chamber of Commerce; National Association of Regional Councils; National Association of Counties; National Business Incubation Association; National League of Cities; American Entrepreneurs for Economic Growth; American Planning Association; Institute for Innovation; Creativity and Capital; National Community Development Association; Public Technology, Inc.
